Fairtrade and the Philosophy and Practices of Conscious Capitalism

FAIRTRADE
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The ethos of Fairtrade is largely congruent with the tenets of conscious capitalism. This latter approach to business considers the importance of maximizing profits and mitigating any negative impacts that corporate practices may have on society or the environment. Fairtrade aligns with this philosophy by aiming to ameliorate the livelihoods of small producers in the global south. It ensures these producers receive fair prices for their products, removes middlemen who may exploit them, and promotes sustainable production methods.
Ndongo Samba Sylla's article elucidates several challenges associated with implementing fair trade. He identifies a fundamental paradox within the economic model of fair trade: pricing these products appropriately is fraught with complications. If the prices are too high, the products risk not selling and, therefore, not benefiting producers; if the prices are too low, however, the impact on poverty reduction is marginal at best. Sylla also notes the increasing prevalence of "ethical labels," which can muddy the waters fo...